Syriza (radical left) won in Greece

[sppunk]

And hello default. They had the nerve to ask for a bailout to pay the bailout today at least.

[The Omega Concern]

Originally Posted by scottytheoneand

The biggest difference between Greece and a State like Florida is that the government of Florida can spend more money than it raises in revenue because the Federal government of the United States will cover the cost things like highways, social services, coast guard, etc. etc. But the European Union won't do a damn thing to help Greece. Germany isn't going to send billions of dollars to Greece the way that California and New York send their federal tax money to "red states" so they can operate in what would otherwise be a deficit.

That's the problem scotty, the Fed. Fiat paper backed by nothing but an iron fist. The Fed has wracked up untold debt on all of us. The IMF is just batch of central banks that work on the same premise (boom and bust nation economies, swoop in and take assets on the cheap).

We'll see what transpires with Russia, China and the BRICS in regards to Greece. If they step up with their new central banks like Fulford claims, then that will be the beginning of the new economic world paradigm (NWO?) with massive new Chinese investment overseas, for better or worse.

[sppunk]

Chinese investment into Greece makes no sense.

Greek investment is worthless abd succe, they are a failed economy at this time. Foreign money does them no good, and boy screws that foreign investor.

[Trotskilicious]

puppet state, dummy

[The Omega Concern]

Here's a plausible near-term scenario per this comment from ZeroHedge:

The biggest advantage that Tsipras and Varoufakis have is the Institutions are thinking inside a very small box using standard "Banker-think". If they start demanding Depositor bail-ins, my bet is that T&V will nationalise the Banks and wipe out the Shareholders and Bond Holders but protect the Depositors. They will then permanently default on all external Debt and start again with a new "Public" Bank to provide genuine socially value-added Banking services with Capital from China and Russia. Implicit in this would be leaving the Eurozone but on balance that's a good thing if Greece is to have any future as a free sovereign State. They would have a few difficult years and would be able to go to the Bond markets for a while but I'm sure that Russia and China would help them through the tough years if only for their own strategic reasons. And, of course, with no debt-servicing costs, a Balanced Budget would be much easier to achieve, although genuine reforms must be made: payment of taxes for instance. I would suggest a low standard rate of Income tax and then Sales/VAT taxes to collect the bulk because they are more difficult to evade.

So, next move is yours "Institutions"........

[sppunk]

There is zero strategic reason to take a risk in Greece. Zerohedge, lol.

[duovamp]

I mean the strategic reason would be borrow a shit ton of Greeks' money and lol in their faces when they want their money back?

Or maybe if you're a communist and want to prove capitalism isn't stable and stability is a good thing. So you'd be hoping for instability to demonstrate the value of stability for future generations, sort of like how after George W. Bush was elected nobody ever voted republican ever again ever.

[Trotskilicious]

they are allying with a communist to create a puppet state i mean cmon

thats always an asset

[The Omega Concern]

China State Official Hints Beijing May Bailout Greece

"I believe there are two ways to give Greece Chinese aid. First, within the framework of the international aid through EU countries. Second, China could aid Greece directly. Especially considering the Silk Road Economic Belt and the Asian Infrastructure Investment Bank. China has this ability," Fan Mingtao director of the Quantitative Finance Department at China's Institute of Quantitative and Technical Economics told Sputnik China.

This next perspective here is pure Gold:

As such, it would be difficult to imagine a more fitting pilot program for the world’s newest supranational lender than a rescue package for the birthplace of Western democracy which has been brought to its knees by that most Western of all multilateral institutions, the IMF.

[The Omega Concern]

Did The IMF Just Open Pandora's Box?

... at this very moment, politicians from Spain's Podemos to Italy Five Star movement are drafting memos demanding that the IMF evaluate their own debt sustainability. Or rather unsustainability.

Here's another card that shows Greece may indeed be headed for the BRICS:

And the kicker:

"these new financing needs render the debt dynamics unsustainable."
Bingo, because that is, in a nutshell, precisely what Tsipras and Varoufakis have been claiming since day one. As expected, a Greek government spokesman promptly said that the IMF report is in line with the Greek government's view on debt.

What makes the IMF report even more odd, is not so much its content and position which have been largely known for quite some time now, but its timing: just three days before the Sunday referendum, Tsipras now has prima facie evidence to wave in front of the Greek people and say "see, we were right all along."

Since the IMF is really just a repository for U.S. Dollar funding, the curious timing suggest the U.S. is meaning to fuck with the Euro. Or not, other positions of the IMF suggest they don't want a system crash. It is a clusterfuck and tough to gauge everything.

They have put themselves in a corner though, that much is certain.

[duovamp]

http://i.imgur.com/pokeCTe.jpg

[The Omega Concern]

A 21-Year-Old Greek Unloads: "I Am Terrified Of Tomorrow...It Feels Like An End"

"I look at my three-year-old niece, I envy her ignorance, I envy her age... They say that all we hear is propaganda; but we have lost our trust in all sides, now everything seems to be lies... It feels like an end. The end of our lives as we knew them. Yes, the lives that, before Friday, we already thought could be better; now we realise they were better then. The only thing we truly wish for is that the worst is not yet to come."

my guess is the banksters will rig a 'yes' vote, but the writing seems to be on the wall for the euro in the long term. fini.


This Is Why The Euro Is Finished

[sppunk]

Exit polls have "no" very slightly ahead.

[sppunk]

Wow. Draw up Drachma V2, see if Europe plays and if not you deal with the trut of the situation but have a valid alternative for the future.

@EconCharlesRead: More than 90% of #Greferendum votes are now counted. #Oxi (no) has 61.5% of votes. A landslide victory #Greececrisis http://t.co/vVNmBDe3v7

[MyOneAndOnly]

http://i.huffpost.com/gen/3153282/th...EECE-570.jpg?1

[The Omega Concern]

One little victory, for now. I'm so used to the banksters getting their way, its nice to see the Greeks pull the Iceland card and tell those central bankers to take a hike.


Now comes the domino-butterfly effect...Can this eventual financial contagion be managed well enough to transition to some new economic order without triggering a full on world war?

[toase]

I wish I was in Greece celebrating

[MyOneAndOnly]

what choice did they have? paying back that debt under the terms imposed would have left Greece economically crippled for generations. all to line the pockets of a handful of obscenely wealthy billionaires in the finance industry.

[The Omega Concern]

Yesh, and soon enough we'll be at the same crossroads with the Federal Reserve.

They are virtual loan sharks who take over the wealth of nations the way the mafia used to attain restaurants; stage a murder at the place or start a fire, wait for the downturn in business, come in with a 'loan' to help out, and bring in Uncle Tony to run procurement, Big Joey to help with accounting and little Vinnie to make sure the kitchen is o.k. and everybody skims off the top, except the owner who hopes one day he isn't suddenly swimming with the fish.

[FoolofaTook]

who are these Uncle Tony, Big Joey, and Little Vinnie fellows? they sound like fine fellows.

[The Omega Concern]

at least with the old mafioso Italians, they were family guys who wanted to watch their kids play little league and shit. The real PTB just wanna suck Luciphers cock all the time behind closed doors in their stupid ass rituals. anyway, shit like the IMF and NATO are just apparatuses of theirs to do their bidding towards homogenizing everybody into one thing essentially, a new world order, to use the term.

Folding us all into a single--cashless--currency is a plan of theirs...this entire event could very well be working towards that. here's hoping they fail..."they" in part meaning a certain segment of the ol' CFR group that joined in the 70's that are still around and players today.

[sppunk]

Sunday is a drop-dead deadline for Greece to offer a real resolution or GTFO.

But while this is going on the real news ins China's economy is in free fall despite it pumping trillions into the market today. That's the real economic factor, it'll crush SE Asia growth.

[The Omega Concern]

Originally Posted by sppunk

Sunday is a drop-dead deadline for Greece to offer a real resolution or GTFO.

But while this is going on the real news ins China's economy is in free fall despite it pumping trillions into the market today. That's the real economic factor, it'll crush SE Asia growth.

I hear Ukraine is broke and about to default as well...then there's Puerto Rico, USA's Greece at present.


here it comes, you can see the wave. Grab your cash out of the system and then get the fuck out of the way of it.

[sppunk]

America's protected from the Chinese issue. Canada, Brazil and Australia can't say the same.

[MyOneAndOnly]

China getting a welcome to the capitalist cycle of boom and bust

[sppunk]

China is different. The citizens don't have cash reserves, they e dumped everything into the market. With commodity prices tanking China's mass buildup has made it so their debt load is crushing. The govt tried to ply municipal debts to private funds that the citizens bought.

What wasn't expected was the slow Chinese economy abd oil price dive. It's created a Pandora's box and they have no mechanism to stop it. Pumping money won't help this situation.

[The Omega Concern]

Originally Posted by sppunk

China is different. The citizens don't have cash reserves, they e dumped everything into the market. With commodity prices tanking China's mass buildup has made it so their debt load is crushing. The govt tried to ply municipal debts to private funds that the citizens bought.

What wasn't expected was the slow Chinese economy abd oil price dive. It's created a Pandora's box and they have no mechanism to stop it. Pumping money won't help this situation.

Yesh...and that drop in oil prices has been brought on by the western oligarchs and their Saudi brothers for the purpose of hurting the Chinese and Russian economies, even at the expense of the fracking boom stateside. But the Marxist in the room reflexively says 'cuz capitalism' which is a fallacy when the real reason is kleptocracy on an unprecedented scale that simply eschews any kind of earnest financial philosphy to then blame the crashes on those belief systems. Hegelian, Hegelian...dark side.

[sppunk]

You can take all your conspiracy nonsense and throwit away. It's stupid and just makes you look silly when you could make salient points without throwing regurgitated crap on here.

Your last post is a perfect example of this.

[toase]

China is going down some time soon, and it will take all of us with them
yay, can't wait

[MyOneAndOnly]

China will be fine. their market was over valued.